empty
 
 
15.06.2021 08:23 AM
EURNZD approaching ascending trendline support, potential for bounce!

This image is no longer relevant

Price is approaching 1st support, in line with 61.8% Fibonacci retracement, 78.6% Fibonacci extension, horizontal swing low support and ascending trendline support. We could see a bounce and further rise towards 1st resistance, in line with 61.8%, 127.2% Fibonacci extension and horizontal swing high resistance. RSI is also holding above the ascending trendline support, as well as price, showing signs of further bullish pressure.

Trading Recommendation

Entry: 1.69305

Reason for Entry:

61.8% Fibonacci retracement, 78.6% Fibonacci extension, horizontal swing low support and ascending trendline support

Take Profit: 1.70070

Reason for Take Profit:

61.8%, 127.2% Fibonacci extension and horizontal swing high resistance

Stop Loss: 1.68902

Reason for Stop Loss:

127.2% Fibonacci extension and horizontal swing low support

Dean Leo,
Analytical expert of InstaForex
© 2007-2024
Earn on cryptocurrency rate changes with InstaForex
Download MetaTrader 4 and open your first trade
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $5000 more!
    In November we raffle $5000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 100% Bonus
    Your unique opportunity to get a 100% bonus on your deposit
    GET BONUS
  • 55% Bonus
    Apply for a 55% bonus on your every deposit
    GET BONUS
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS

Recommended Stories

Can't speak right now?
Ask your question in the chat.
Widget callback